China COSCO's Xu Minjie Gets 10 Years for Corruption

by Ship & Bunker News Team
Tuesday November 25, 2014

The former vice president of China COSCO Holdings Co Ltd. [HKG:1919] (China COSCO), Xu Minjie, has been sentenced to 10 years in prison for corruption, SinoShip News reports.

Ship & Bunker reported last November that China COSCO revealed Xu Minjie had come under investigation "by a relevant regulatory body" prompting the executive to resign "due to personal reasons."

The sentence comes less than a week after a senior executive at China National Offshore Oil Company (CNOOC) was detained on allegations of bribery.

Ship & Bunker News Team
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